This program comprises two grant streams:  Hub Development and...

This program comprises two grant streams:

 Hub Development and Design Grants: supporting Australian industry on the initial development, feasibility and design work needed to advance Hydrogen Hub concepts
Matched grant funding from $500,000 to $3 million.

 Hub Implementation Round 1 Grants: supporting Australian industry to roll-out and establish Hub projects in regional Australia.
Matched grant funding from $30 million to $70 million.

These two processes will allow those proponents who are already prepared to go to the Implementation stage to make applications for this funding. At the same time, it will also allow for other industry proponents in earlier stage of development to access Government support for early works before moving to the Implementation stage.
The Development and Design grants will be delivered through two successive funding rounds. Further Implementation grants may be awarded in a subsequent round subject to availability of program funds. We will deliver each of the Activating a Regional Hydrogen Industry: Clean Hydrogen Industrial Hubs grant rounds through stand-alone, open competitive selection processes. You are encouraged to consider applying for both Development and Design grants and Implementation grants, as well as other related Commonwealth, State and Territory or International funding opportunities.
For example, the Commonwealth government will shortly launch the CCUS Hubs and Technology program, the Australian Renewable Energy Agency (ARENA) is funded to support the development of Hydrogen technology, and the Clean Energy Finance Corporation has established a $300 million concession finance facility to support hydrogen projects. If you are successful in more than one grant opportunity you must ensure activities and expenditure for each grant are clearly separated.

Well, it will be interesting to see how many government grants ECT have applied for..

IMO - Assuming if they are successful in either one or both, then the matched funding from 500K to 3 million will be awarded in 2 tranches, for the design and feasibility studies of the LV Hydrogen project.

The matched funding of 70 Million for the Implementation of the LV Hydrogen project if Approved, would be "subject to a number of conditions and milestones" being met - by ECT.
The conditions could include a positive feasibility study, confirmed project costing, financial partners & confirmed funding commitments, project & engineering  partners confirmed, off-take agreements, etc etc..

We wait and see - fingers crossed


IMO